Verisk Names Chris Sawford Managing Director of Claims for the UK

Rhea-AI Summary

Verisk (Nasdaq: VRSK) has appointed Chris Sawford as managing director of claims in the UK as of April 6, 2023. His role emphasizes enhancing automation and efficiency for insurer claims teams amid ongoing inflation and supply chain challenges. Sawford is co-founder of Validus-IVC, acquired by Verisk in 2018. Under his leadership, Verisk aims to drive operational efficiency and digital transformation across the insurance sector. The organization has expanded its capabilities through acquisitions, including leading insurtech firms. These innovations support a variety of claims processes, addressing operational challenges that insurers face. Verisk has also been recognized for excellence in risk management at the UK & Europe 2023 Awards.

Positive

• Appointment of Chris Sawford as managing director is expected to enhance operational efficiencies in claims management.
• Recent acquisitions strengthen Verisk's position in the insurance market, enhancing its service offerings.
• Recognition at the UK & Europe 2023 Awards boosts the company's reputation in risk management.

Negative

• None.

Supports global insurance market with automated solutions to manage impacts of inflation

LONDON, April 06, 2023 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, has named Chris Sawford managing director of claims for the United Kingdom. Sawford leads strategic initiatives that can help insurer claims teams boost automation, increase efficiency and contain costs as they continue to face persistently high inflation and supply chain disruption.

A sought-after industry expert, Sawford co-founded Validus-IVC, a top provider of claims management solutions in the UK, which Verisk acquired in 2018.

“We’re laser-focused on driving operational efficiency and digital transformation for our clients and the global insurance industry,” said Maroun Mourad, president of claims solutions for Verisk. “Chris’s leadership and ongoing initiatives throughout the business have accelerated our efforts to better support the operational and digital aspirations of our clients in the UK and Continental Europe.”

As claims inflation drives upward pressure on premiums, Verisk’s automated solutions for personal injury, motor and property claims—as well as subrogation and fraud detection tools—assist insurers in rapidly resolving claims and managing loss costs.

Verisk has strengthened its existing data sets and functionality with the acquisition of European-based businesses, such as a leading insurance industry software specialist now known as Specialty Business Solutions, Actineo, an international market leader for the digitalisation and medical assessment of bodily injury claims, and most recently, Mavera, a Sweden-based InsurTech firm with a strong Nordic presence and established client base for its personal injury claims management platform.

“Verisk is uniquely positioned to partner with the insurance industry to address its biggest challenges,“ Sawford said. “I’m incredibly excited about working with our talented, knowledgable and passionate team to help our clients capitalise on the operational opportunities they need to move their business forward in a complex environment.“

Verisk was recently recognised by InsuranceERM as the cat risk team of the year and risk transfer innovation of the year at the UK & Europe 2023 Awards. Verisk’s Property Claim Services (PCS) team worked with the global specialty reinsurance market to develop a structure for MEAT (marine, energy, aviation and terror) classes when demand for aggregate specialty retrocession ILWs (industry loss warranties) began to rise.

Verisk offers a wide range of solutions in the UK and Continental Europe that leverage robust data, artificial intelligence and machine learning to help insurers enhance decision-making, improve the customer experience and drive profitable growth. Verisk’s solutions support every step in the claims life cycle, including reporting and analysis, adjustment and investigations, and settlement and resolution.

About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, ESG and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom. 

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• Chris Sawford_Verisk

FAQ

What is the significance of Chris Sawford's appointment at Verisk?

Chris Sawford's appointment is significant as it aims to improve automation and efficiency in claims management amid inflation pressures.

How are Verisk's automated solutions helping the insurance industry?

Verisk's automated solutions assist insurers in resolving claims quickly and managing loss costs effectively, crucial in times of rising claims inflation.

What recent acquisitions has Verisk made to enhance its capabilities?

Verisk has recently acquired several European-based firms, including Specialty Business Solutions and Mavera, to enhance its claims management solutions.

What awards did Verisk win at the UK & Europe 2023 Awards?

Verisk was recognized as the cat risk team of the year and for risk transfer innovation at the UK & Europe 2023 Awards.